Revolut’s blockbuster IPO is two years out, says Nik Storonsky
The boss of Revolut has ruled out a public listing for the next two years in a move that extends the Treasury’s timeline to shore up one of Europe’s most-desired IPO prospects.
Nik Storonsky, the straight-talking founder of Revolut, said a public debut was “two years away”.
“We’re a bank, and for a bank, it’s super important to have trust. Public companies are trusted more compared to private companies,” he told Bloomberg TV.
Instead, the company is tipped to kick off more secondary share sales, which will help grow the business’ price tag before an inevitable listing.
Last year, the firm cemented its $75bn valuation following a secondary share sale, which included investment from chipmaker Nvidia through its venture capital arm, NVentures.
In an exclusive video interview with City PM, Will Mahon-Heap, the former head of international and authorisations at Revolut, said: “I think it will IPO at a much higher price than the $100bn.”
Questioned on the timeline this could mean for the fintech’s highly-anticipated public float, he said: “We don’t know, right?
“Maybe it goes from $100bn to $200bn next year. Let’s see what happens. Anything is possible in the markets currently.”
Revolut’s boss cold on London IPO
A tentative 2028 timeline for Revolut’s eventual blockbuster listing hands Rachel Reeves – which has made bullish attempts to galvanise fintech listings in the last year – extra capacity to lure the digital banking giant onto the London market.
But it may mark an uphill battle after Storonsky as recently as December signalled his preference for a US IPO.
The fintech chief said it would be “clearly more beneficial” to head to Wall Street due to the “greater liquidity” in a major blow to Reeves’ charm offensive on the firm.
As part of the Treasury’s Financial Services Growth and Competitiveness Strategy last July, Reeves launched a fleet of policies aimed to sweeten the regulatory landscape for scaling fintech firms.
It comes after Storonsky has previously hit out at the “extreme bureaucracy” of the UK.
This week, the Treasury and regulators will meet with a host of fintech unicorns for key lobbying summits as part of UK fintech week, City PM understands.
Revolut launched its second crack at the US market earlier this year with a bid for a US banking charter. Storonsky said the firm’s “official target” to bag the permit is four months.
“It’s obviously much easier for us given the new administration, plus that we have so many other banking licenses, plus we have a banking license in the UK now,” he said.
It comes amid a flurry of neobanks and fintech firms making plays for a US licence following deregulation reforms from the Trump administration. Europe’s second-largest neobank Bunq, which boasts over 20 million customers, kicked off the year with its play for a US permit.
Paypal, Brazilian fintech Nubank and crypto giant Coinbase all also lodged bids in 2025.